HomeMy WebLinkAbout2007-027-03/20/2007-AUTHORIZING THE LEASE BACK TO THE SELLER OF THE RESIDENCE ON RANCH PROPERTY TO BE PURCHASED AS AN AD RESOLUTION 2007-027
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AUTHORIZING THE LEASE BACK TO THE SELLER
OF THE RESIDENCE ON RANCH PROPERTY TO BE PURCHASED
AS AN ADDITION TO COYOTE RIDGE NATURAL AREA
FOR UP TO ONE YEAR
WHEREAS,the City of Fort Collins has negotiated a purchase and sale agreement to acquire
Coyote Ridge Stables, a 75-acre property adjacent to Coyote Ridge Natural Area, for eventual
addition to Coyote Ridge Natural Area(the"Purchase Property"); and
WHEREAS,a condition of the purchase and sale agreement for the Purchase Property,is that
the City lease back to the Seller, for a period of up to one year, a three-acre portion of the Property
that contains the existing residence(the"Leased Premises"), for residential housing only, in order
for the Seller to have time to find a substitute residence; and
WHEREAS, the Leased Premises are more specifically described on Exhibit A, attached
hereto and incorporated herein by this reference; and
WHEREAS, staff has proposed a monthly lease rate of $1,000 for each of the initial 4
months of the lease, $1,500 for each of the next 4 months of the lease, and $2,000 for each of the
last 4 months of the lease; and
WHEREAS, City staff has negotiated a lease agreement, a copy of which, dated March 14,
2007, is on file in the Office of the City Clerk and available for inspection,by which the City would
lease the Leased Premises; and
WHEREAS,the Land Conservation and Stewardship Board unanimously recommended that
the Council authorize the proposed lease at its February 14, 2007, regular meeting; and
WHEREAS, under Section 23-114 of the Code of the City of Fort Collins, the Council is
authorized to approve the lease any and all interests in real property owned in the name of the City
for a period of two years or less by Resolution, provided that Council first finds that the lease is in
for the benefit of the citizens of Fort Collins and will be in the best interests of the City.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That the Council hereby finds that leasing the Leased Premises pursuant to the
terms set forth herein is in the best interests for the City of Fort Collins.
Section 2. That the City Manager is hereby authorized to execute an agreement to lease the
Leased Premises consistent with the terms of this Resolution, together with such terms and
conditions as the City Manager, in consultation with the City Attorney, determines to be necessary
or appropriate to protect the interests of the City, including any necessary corrections to the legal
descriptions shown thereon that do not result in a material increase or change in character of the
intended lease property.
Passed and adopted at a regular meeting of the C cil of the City of Fort pins this 201h
day of March, A.D. 2007,
May
ATTEST:
City Clerk
EXHIBIT A
A 2.98 acre tract with improvements described as:
A TRACT OF LAND IN THE NORTHEAST QUARTER OF SECTION 21, TOWNSHIP 6
NORTH, RANGE 69 WEST OF THE SIXTH PRINCIPAL MERIDIAN, LARIMER
COUNTY, COLORADO, DESCRIBED AS FOLLOWS:
CONSIDERING THE NORTHERLY LINE OF THE NORTHEAST QUARTER OF
SECTION 21 AS BEARING SOUTH 89 DEGREES 10 MINUTES 15 SECONDS EAST
FROM SOLAR OBSERVATION; SAID LINE BEING MONUMENTED BY A 3/4 INCH
REBAR AT THE NORTH QUARTER CORNER AND A 3/41NCH REBAR WITH A 2-1/2
INCH ALUMINUM CAP IN A MONUMENT BOX AT THE NORTHEAST CORNER;
FROM THE NORTHEAST CORNER OF SECTION 21;
THENCE NORTH 89 DEGREES 10 MINUTES 15 SECONDS WEST ALONG THE
NORTHERLY LINE OF THE NORTHEAST QUARTER 1245.22 FEET;
THENCE SOUTH 00 DEGREES O8 MINUTES 30 SECONDS EAST 1315.09 FEET;
THENCE SOUTH 89 DEGREES 55 MINUTES 50 SECONDS WEST 886.73 FEET TO
THE POINT OF BEGINNING;
THENCE CONTINUE SOUTH 89 DEGREES 55 MINUTES 50 SECONDS WEST 360.00
FEET;
THENCE NORTH 00 DEGREES 04 MINUTES 10 SECONDS WEST 360.00 FEET,
PARALLEL WITH THE WESTERLY LINE OF THE NORTHEAST QUARTER;
THENCE SOUTH 89 DEGREES 10 MINUTES 15 SECONDS EAST 360.00 FEET;
THENCE SOUTH 00 DEGREES O7 MINUTES 32 SECONDS EAST 354.34 FEET TO
THE POINT OF BEGINNING, COUNTY OF LARIMER, STATE OF COLORADO.